$7M PROPERTY RECORD
Coastal hideaway sets new record for region
AN exclusive Lorne compound has set a residential record for the town and the Geelong region with a mammoth sale of over $7 million.
The private resort-style mansion at 1 Roadknight St spent just 10 days on the market and attracted multiple cashed-up buyers — all willing to pay the $6.5 million asking price.
Great Ocean Road Real Estate Lorne director Ian Stewart said a private auction was conducted onsite, which achieved the huge undisclosed sum.
“We sat all three people down in the dining room to give them every chance, it was a tense environment, and listing agent Tyrone Provan was instrumental in setting up the process,” Mr Stewart said.
The new owners are nonpermanent residents who will use the home as a leisure property.
Set in the heart of Lorne, the enormous six-bedroom contemporary lifestyle property was sold walk-in walk-out with all furniture specifically curated for the home.
It was designed by the Spaces Design Group and built by GD Constructions and last sold in 2011 for $4.4 million.
“It’s a magnificent hideaway in the heart of Lorne,” Mr Stewart said. “Properties like these are special places; 1837sq m of space is not the norm.”
The sale eclipsed the Lorne record held by 104 Smith St, which sold last year for $4.925 million.
It’s also a record for the Greater Geelong region after exceeding the more than $6.5 million sale of 14-16 Riverside Tce, Barwon Heads, last year.
Mr Stewart said the result was in stark contrast to this time last year when the agency had the “worst January in the history of our company”, writing only one transaction for January 2019.
“What a way to kick the summer off, the confidence is back in our leisure market,” he said. “When the real estate wave builds momentum in Melbourne we start to get the ripple effect here.”